The Japanese subsidiary of the now-defunct cryptocurrency exchange FTX has received approval from local regulators to continue sorting out issues with withdrawals until next year. The Kanto Local Finance Bureau, a local financial regulator running under the Ministry of Finance of Japan, has issued a statement regarding FTX Japan operations, Reuters reported. The Japanese authority
Month: December 2022
Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet from the project’s Twitter account on Saturday. Community reports detail that Lodestar lost roughly $6.9 million from the vulnerability. Lodestar Finance Loses $6.9 Million in an Exploit, TVL Drained, LODE Drops by 53% Another decentralized finance (defi) platform, Lodestar Finance
Arbitrum-based lending protocol Lodestar Finance was exploited in a flash loan attack on Dec. 10. According to Lodestar, the attacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. In a Twitter thread, Lodestar explained the attack flow. The attacker first manipulated the exchange rate of the plvGLP
Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood. In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga. Wood: SBF “couldn’t control” Bitcoin As the legal ramifications of FTX and Bankman-Fried, also known
To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over one million people have lost their life savings owing to the financial
Bitcoin (BTC) price had a mixed reaction on Dec. 9 after the November report on United States producer prices showed a 7.4% increase versus 2021. The data suggested that wholesale costs continued to rise and inflation may last longer than investors had previously believed. Oil prices are also still a focus for investors, with crude
United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT (USDT) stablecoin to USD Coin (USDC), a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018. The cryptocurrency exchange suggested that USDC is a much more secure alternative in the wake of the FTX collapse saga and has also exempted
A class action lawsuit against Kim Kardashian and Floyd Mayweather Jr. over their promotion of crypto token ethereummax has been dismissed. The judge stated that the law “expects investors to act reasonably before basing their bets on the zeitgeist of the moment.” Crypto Lawsuit Against Kim Kardashian Dismissed A federal judge dismissed a proposed class
The domino effect of FTX CEO Sam Bankman-Fried’s actions came full circle as his reputation began impacting the professional lives of his parents — Stanford Law professors Joseph Bankman and Barbara Fried. SBF’s father, Bankman, had to cancel his winter session course on tax policy, which according to The Standford Daily, was at a time
The economy is facing an outlook bleaker than a Welsh weather forecast, and few are rushing to buy risk assets. Here are a few tips for weathering unfavorable market conditions. Option #1: Save cash There’s no shame in sitting on the sidelines and saving cash or stablecoins. When bullish momentum returns, you will have plenty
For the uninitiated, the world of cryptocurrencies and blockchain technology can be daunting, confusing and difficult to comprehend. Three industry experts and a skeptical economist explore the past, present and future of the burgeoning technology in a new online learning series. Masterclass is a web-based education platform that offers “classes” from subject matter experts in
Since taking over at the United States Securities and Exchange Commission (SEC), chairman Gary Gensler has repeatedly been referred to as the “bad cop” of the digital asset industry. To this point, over the past 18 months, Gensler has taken an extremely hard-nosed approach toward the crypto market, handing out numerous fines and enforcing stringent
Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and its
A court in South Korea has supported the decision of local exchanges to delist Wemade’s Wemix (WEMIX) tokens, dismissing Wemade’s request to cancel the delisting. The Seoul Central District Court ruled on Dec. 7 to justify the decision of the Digital Asset eXchange Alliance (DAXA) to delist WEMIX from major South Korean exchanges, The Korea
Bitcoin (BTC) maintained $17,000 support into Dec. 10 ahead of a critical week of macro data. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI print will make Fed “slow down” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded sideways after the close of trading on Wall Street. The pair looked set
According to a discussion at the 151st Ethereum Core Developers Meeting on Dec. 8, core programmers have set a tentative deadline of March 2023 for Ethereum’s Shanghai hard fork. In addition, developers will aim for May or June 2023 to launch the Ethereum Improvement Protocol (EIP) 4844 upgrade that will introduce proto-danksharding to the network.
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